Sep 13, 2011

Yasheng Huang: Does democracy stifle economic growth? (A fresh comparative analysis of China and India)



Economist Yasheng Huang compares China to India, and asks how China's authoritarian rule contributed to its astonishing economic growth -- leading to a big question: Is democracy actually holding India back? Huang's answer may surprise you.

MIT and Fudan University professor Yasheng Huang is an authority on how to get ahead in emerging economies. The China and India Labs he founded at MIT's Sloan School of Management specialize in helping local startups improve their strategies. His book Capitalism with Chinese Characteristics (2008) chronicles three decades of economic reform in China and documents the critical role that private entrepreneurship played in the Communist nation’s “economic miracle.” Huang believes that China is moving away from Marxism (public ownership) but not Leninism (ideology of state control) -- and that strong social fundamentals are the key reason for its growth.

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